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Strategies & Market Trends : Covered Calls -- Ignore unavailable to you. Want to Upgrade?

To: tchphysics who wrote (23)	5/5/1998 9:50:00 PM
From: FruJu	Read Replies (1) \| Respond to of 86

Yes, I would be happy. I too have gone the other way, waiting to try and have it go up a point, only to have it drop and then sit there, wiping out any possible profit from selling calls. It takes a lot of hard discipline, but chasing the last 1/4 or 1/2 point just kills you in the long run. E>

To: tchphysics who wrote (23)	5/8/1998 6:50:00 PM
From: tchphysics	Respond to of 86

I sold covered calls on Ashanti Goldfields (ASL) today. Nice premium for a stock that has been stuck in pretty tight trading range. Bought the stock two days ago at 9 9/16 and waited for a tiny jump today to sell the Jun 10's at $1.00. If it expires I get 9% and downside protection to $8.70 per share. If called, I get a return of 12.8%. Take a look at the stock. Since it is hovering just below $10, the 10 call is offering a nice premium. The underlying stock looks interesting as it is a profitable gold producer in Africa. Remaining profitable in this gold market seems pretty good to me. If the market heads south due to inflation fears, this one should do very well. Other followers of this forum should let us know what they are up to and what they are currently looking at. Great way to generate ideas and learn from each other.

To: tchphysics who wrote (23)	5/9/1998 10:00:00 AM
From: Herm	Read Replies (1) \| Respond to of 86

Greetings Jeffrey, I was out of town for a few days this week. Wow! You got a hot one with CLCX. You pegged that sucker at a prime price of $11 3/4. What a killer. Unreal! CLCX chart looks fantastic. Plenty of upside potential and still a bargain at the current $15.00+ P/E VALUE: NASDAQ: (CLCX : $15 7/8)$209 million Market Cap at May 8, 1998 Trades at a 37% Discount PE Multiple of 22.4 X, vs. the 35.3 X average multiple at which the Education & Training SubIndustry is priced. NEXT EARNINGS REPORT: Next earnings release due June 9, 1998 so CLCX should move upwards considering the profit taking after the split is out of the way! For a technical standpoint, CLCX is just about reaching and about to cross it's 50-day moving average. So, the momentum traders will jump on board for a few points. The upper Bollinger Band has been reached although the RSI is only now starting to rise. So, once again Jeff, you nailed CLCX in the launch pad with perfect timing! TECHNICAL CHART: bigcharts.com SHORT INTEREST: What a pretty sight! Short squeeze? From March 15, to April 15, 1998 CLCX short interest increased a whopping 40% to 6,047,072 shares with 1,366,080 average daily volume. Compare that to Friday's 3,330,000 shares traded and you can see some short covering taking place. I would venture to say the CLCX may reach the next overhead resistance price of $18.00 by next week considering all the factors. RECOMMENDATIONS: quote.yahoo.com